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30.1 - 30.2

Savings account 30.1 - 30.2 Amber Brasket

QuestionAnswer
Savings Putting money aside for future use
rate of return The percentage of increase in the value of savings from earned interest
compound interest interest earned on both the principal- the money deposited into a savings account- and any interest earned on it
regular savings accounts A savings account that allows consumers to deposit or withdraw money at any time and to earn interest on deposited funds
certificate of deposit Type of savings account that requires a specified amount of money be deposited for a set period of time
Maturity date The date when the money deposited into a certificate of deposit becomes available to the depositor
Money market fund a type of mutual fund, or pool of money, put into a variety of short-term debt by business or government
money market deposit accounts a form of money market fund offered by banks, savings and loans, and credit unions.
liquidity The ability to quickly turn an investment into cash
inflation risk risk that the rate of inflation will increase more than the rate of interest on savings
experts* Someone with special knowledge or ability
Suggest* to mention or imply as a possibility
Item* to establish the identity of
Accumulate* to increase gradually in quantity or number
institution* an established organization or corporation
set* put into a position
duration* time during which something exists or lasts
Mutual* shared in common
opportunity cost benefit of choice that is given up when one decision is made instead of another
simple interest interest earned only on money deposited into a savings account
Created by: Amber_Brasket